Global markets follow Wall Street’s lead as they anticipate upcoming earnings reports – 95.5 WSB

Global markets were mostly higher on Tuesday as U.S. stocks rebounded, with investors eagerly awaiting earnings reports from around 150 companies in the S&P 500 this week. The futures for the S&P 500 and Dow Jones Industrial Average were up 0.1%, indicating a positive start to the trading day.

Oil prices also rose, driven by news of a potential Israeli military offensive targeting the Gazan city of Rafah. Satellite images analyzed by The Associated Press showed a new compound of tents being built near Khan Younis in the Gaza Strip, a region that has been the focus of recent Israeli military operations.

In Asian trading, Japan’s Nikkei 225 rose 0.3% despite ongoing challenges in the country’s manufacturing sector. London’s FTSE 100 hit a record high, while Germany’s DAX and France’s CAC 40 also saw gains. The Hang Seng in Hong Kong surged 1.9%, but the Shanghai Composite index slipped 0.7%.

On Monday, the S&P 500, Dow Jones, and Nasdaq all posted gains, with Tesla being a notable decliner after announcing price cuts. The electric vehicle company’s stock has already dropped more than 40% this year.

Investors are closely watching earnings reports from companies in the S&P 500, including the “Magnificent Seven” beyond Tesla and Alphabet. With the Federal Reserve signaling a need to keep interest rates high to combat inflation, companies are under pressure to deliver strong profits and revenue.

In oil trading, U.S. benchmark crude and Brent crude both saw gains, while the U.S. dollar slipped slightly against the Japanese yen and the euro rose. Overall, the global market outlook remains positive, with investors keeping a close eye on earnings reports and geopolitical developments.